Cheap Car Insurance: How Women Can Save Money

Despite gender no longer being considered when it comes to car insurance, women could still receive cheaper car insurance and save up to £311 on their policy according to Diamond insurers.

FREE instant online car valuation

Enter your number plate

What is car insurance for women?

When it comes to car insurance, insurers perceive women to be safer on the road compared to their male counterparts, posing a lesser risk factor. This is why women used to get much cheaper car insurance quotes than men, however, since 2012 gender could no longer be considered when calculating a price for car insurance. The EU made this incremental change in policy to ensure car insurance companies comply with the gender equality legislation.

However, after the equalising of genders, there still seems to be a noticeable difference in price; £120 difference according to Diamond insurers. Statistics state that men are more likely to own high-powered vehicles than women, which automatically will increase the insurance rate. It has also been found that men generally have more claims while women between the ages of 17-24 make 14% fewer claims, and their claims tend to be less severe. All of which have an impact on your car insurance policy.

Another way women can benefit from a cheap car insurance is by using women specific insurers. Some companies, believing that women are the safer driver, will only insure women, providing them with great deals to get them a cheaper insurance policy.

Why did the cost of car insurance rise?

It could have gone either way; the general price of insurance for males could have been reduced to match what females were usually charged, or female car insurance could rise. Unfortunately, for women, it was the latter.

The main reason for the rise in price was due to age, which can still be considered when calculating your insurance policy. Young people hold a higher-risk factor as statistics show that they are more likely to be involved in an accident. 25% of all fatal crashes have involved drivers under the age of 25, despite them being only just over 12% of the population. Therefore, no matter what gender you are, drivers under the age of 25 fall victim to increasingly high insurance prices.

How to get cheap car insurance for women?

Now that gender can’t technically be taken into consideration anymore, other factors need to be looked into to find the best cheap car insurance policy possible. Women can get cheaper car insurance by following the guide below:

1

Shop around

Don’t just settle for the first premium you find. Shop around and find the best policy that suits your needs and your bank account. Take a look at women-specific insurers like Sheilas’ Wheels or Diamond. They don’t just offer standard car insurance, but additional benefits that make the difference, like handbag cover and child seat cover.

2

Type of insurance

As well as more options of who to insure with, there are also multiple options of what type of insurance you can choose depending on what you can afford. Some of the main insurance types include: third party, third party, fire and theft, and comprehensive. But what do they all mean?

Third party: covers claims from others, for example, to fix the damage on their car but not your own.

Third party, fire and theft: covers claims from others, fire damage to your own vehicle and your car being stolen.

Comprehensive: covers all the above as well as accidental damage to your own car.

3

Black box insurance

As women are known to be the safer drivers from an insurance perspective, generally the chances of them being able to drive carefully enough to make a black box worthwhile should be pretty high. They measure your speed, how often you brake sharply, how well you take corners and how well you drive in general using trackers, and if they agree that you drive safely insurers will reduce the amount you have to spend on your car insurance.

4

Enter an accurate car value

On average, men are more likely to own more expensive cars, making their premium more expensive, therefore, getting the value of your car right can be an easy way to bring your insurance down. Cars depreciate over time and it’s important to know your car's value now, as opposed to how much you paid for it so make sure you enter an accurate value.

5

Reduce your mileage

Another statistic states that men usually drive further than women, and as mileage is another factor that is considered when calculating your insurance policy, this can go in a woman’s favour. The lower you can keep your mileage down the cheaper your online car insurance quote will be.

6

Protect your no claims

As already stated, it’s statistically proven that women need to claim less than men, so it would be advisable to protect your no claims bonus. It may increase your annual policy by a small amount, but rather that than risk a high policy the following year if the day comes that you do have to claim and all those years of not claiming are wasted.

7

Keep your car off the road

This may not always be possible, but if you have a driveway, using it may help to save money on car insurance. The safer insurers feel your car is, this also includes any safety features, such as alarm systems installed, then the lower your premium will be.

There are many ways for women to still receive cheap car insurance, particularly if you tick all the boxes above. However, it is important that you don’t always opt for the cheapest option, make sure you check the policy and its additional benefits to ensure you will be covered for everything you need to be covered for.